SM Prime reports 70% unit take-up at Hamilo

COSTA DEL HAMILO, Inc. (CDHI), a subsidiary of listed SM Prime Holdings, Inc., has sold around 70% of units in its Hamilo Coast development in Batangas amid sustained demand from the upscale market, a company official said.

- — Beatriz Marie D. Cruz

“We had experienced a 15% increase in reservation sales in peso terms as compared to prior years,” SM Prime Chief Finance Officer John Nai Peng C. Ong said at a Nov. 10 briefing.

“Now, if we look in terms of the number of units, we have already sold around 70% of our available inventory, and we are working on the remaining 30%. That’s why M Village is there to sustain that momentum.”

SM Prime invested P3 billion to develop M Village, the first residential community in Marina Estates, a beachside resort within Hamilo Coast. The first phase of the 12-hectare (ha) project offers more than 170 residential lots.